St. Albert Real Estate Market Statistics – October 2024

St. Albert’s real estate landscape has demonstrated remarkable growth and resilience throughout 2024. This blog delves into the underlying trends, statistics, and market dynamics that have shaped one of Alberta’s most vibrant housing markets over the year. By analyzing data from the REALTORS® Association of Edmonton, we can pinpoint how St. Albert stands out in the regional context and forecast future directions.

Bar Graphs Below Are Interactive

St. Albert New Listing Count

Despite robust sales, the number of new listings in St. Albert has only slightly increased. In 2024, there were 1,718 new listings, a modest 1.36% increase from 1,695 in 2023. This relative stability in new listings, coupled with high sales growth, suggests a tightening market where demand outpaces supply.

St. Albert Real Estate- Average List Price

The average asking price in St. Albert has seen a steady rise. By October 2024, the average asking price stood at $533K, which is a 5.70% increase from $505K in 2023. This uptrend is supported by a 6.38% year-to-date increase, signalling sustained seller optimism and buyer willingness to invest at higher price points.

The average ask-to-sell ratio, a key indicator of market balance and negotiation power, stands at 0.988 for 2024, slightly up from 0.982 in 2023. This shift suggests that while buyers are still in a strong negotiating position, sellers are gaining ground, likely due to the limited inventory and increasing property values.

St. Albert Home Sales

The year-to-date (YTD) data for 2024 reveals a significant upswing in property transactions in St. Albert. As of October, the total number of sold properties reached 1,332, marking a 24.95% increase compared to the same period in 2023. This surge is even more pronounced when looking at the monthly data for October 2024 alone, which saw 119 properties sold—a 40.00% rise from October 2023. Such vigorous activity underscores a growing buyer interest and a healthy market that rebounds strongly.

St. Albert Average Sale Price of Homes

The average sale price of homes in October 2024 was $474K, up 14.68% from the previous year. Overall, the year-to-date average sale price also increased by 8.76% to reach $497K. These numbers not only reflect the premium quality of St. Albert homes but also the area’s appeal to homebuyers seeking long-term value.

St. Albert Housing Market Days on MLS®

The market’s liquidity, as measured by days on market until sale, has adjusted to 44 days down from 60 October 2023. Properties are moving faster, indicating that buyers are eager and prepared to close deals swiftly in a competitive market environment.

St. Albert’s real estate market in 2024 is characterized by strong growth, rising prices, and a healthy turnover of properties. These trends reflect both the desirability of the area and the robust economic fundamentals supporting the housing market. As we look forward, potential buyers should consider the market’s trajectory and recognize that St. Albert represents a sound investment in a steadily appreciating community.

Prospective sellers, on the other hand, can feel optimistic about entering the market, given the favourable conditions for securing advantageous sale terms. The forecast for 2025 and beyond remains positive, with expectations of continued growth in both property values and market activity.

In conclusion, whether you are looking to buy or sell in St. Albert, the current trends offer promising opportunities. With strategic planning and a keen understanding of market dynamics, stakeholders can effectively navigate this vibrant real estate landscape.

Interested in buying or selling in the St. Albert real estate market CONTACT CHRIS REID

St. Albert Website